GMS Inc. (GMS) traded on unusually high volume on Feb. 06, as the stock lost 1.41% to close at $19.58. On the day, GMS Inc. saw 1.15 million shares trade hands on 2,167 trades. Considering that the stock averages only a daily volume of 701,998 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $34.25 and $13.61 over the last 52-weeks, its 50-day SMA is now $17.36, and its 200-day SMA $23.44. GMS Inc. has a P/B ratio of 1.26. It also has a P/E ratio of 13.
GMS Inc is a North American-based supplier of building materials. The company principally operates through three main product lines, which are Wallboards, Ceilings, and Steel Framings. In addition, it also supplies a comprehensive inventory of other building materials, including FRP boards, metal framing, insulation, and various other related interior construction products; however, the majority of the company’s revenue is generated by the Wallboard segment. The company’s main customers include contractors as well as home builders.
Headquartered in Tucker, GA, GMS Inc. has 4,642 employees and is currently under the leadership of CEO G. Michael Callahan.